Technology-focused hedge fund Whale Rock Capital Management returned 72.5% in the first half of 2026, placing the $19 billion manager among the year’s top-performing hedge funds as AI-related investments continued to outperform, according to a report by Bloomberg.Â
The firm’s flagship fund gained 9.2% in June, while its long-only strategy advanced 9.4%, taking its year-to-date return to 82%, according to a person familiar with the results.
Performance was driven by holdings in semiconductor companies Sandisk and SK Hynix, as well as circuit-board manufacturer TTM Technologies. The portfolio also benefited from an investment in AI developer Anthropic, whose latest funding round reportedly valued the company at $965 billion.
The results underscore the continued strength of technology-focused hedge fund strategies amid the ongoing AI rally, with both public semiconductor stocks and private AI companies contributing to performance across the sector.
Whale Rock also launched its MegaCap Tech Fund earlier this year, a concentrated long-only strategy investing in eight to 15 companies with market capitalisations above $200 billion. The fund, which manages approximately $1 billion, gained 4.6% in June, lifting its year-to-date return to 54%.
The Boston-based manager declined to comment on the performance figures.
